• Greystone Closes Large CLO

    Greystone closed a large collateralized loan obligation (CLO) composed solely of healthcare assets. Greystone CRE Notes 2025-HC4, LLC is a $451.6 million commercial real estate CLO backed exclusively by bridge loans provided by Greystone. The transaction marks the firm’s eighth overall CRE CLO and the industry’s fourth-ever CRE CLO composed... Read More »
  • Fortress Investment Group Divests Arizona Asset

    JLL Capital Markets has closed the sale of Inspira Arrowhead, a 165-unit seniors housing community in Glendale, Arizona. The community was under the ownership of Fortress Investment Group funds for just 18 months, but in that time occupancy rose from 89% to 94% and NOI improved by 35%. Fortress bought the asset in April 2024 in a joint venture... Read More »
  • Stacked Stone Makes Another Acquisition

    Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, followed up on its October acquisition in Oklahoma with the purchase of two assisted living/memory care communities in Illinois, near the St. Louis MSA. Similar to the Oklahoma deal, Stacked Stone has made Illinois acquisition in a joint venture with the private equity... Read More »
  • Blueprint Handles Large SNF Deal in Pennsylvania

    Not-for-profit to for-profit are not easy, and it took a two-year process for Blueprint to successfully close the sale of a 250-bed skilled nursing facility in Philadelphia, Pennsylvania. The property appears to be Cheltenham Nursing & Rehabilitation, one of three skilled nursing facilities owned by Dublin, Ohio-American Health Foundation... Read More »
  • JDI Realty Buys Alpharetta Asset

    A partnership recently acquired Chapters Living of Alpharetta, a 79-unit assisted living/memory care community in Alpharetta, Georgia (Atlanta, MSA). Built in 2013, the high-quality community was previously known as Addington Place of Alpharetta. JDI Realty, in partnership with Purity Strategies and Chapters Senior Living, bought the community... Read More »
Foundry Commercial and Fundamental Advisor Announces Another Acquisition

Foundry Commercial and Fundamental Advisor Announces Another Acquisition

Ziegler’s Dan Revie and Tedd Van Gorden represented the seller of a 120-unit seniors housing community in Kansas. Featuring 60 assisted living, 40 memory care and 20 physician-directed care units, the sale also included an adjacent vacant lot where the new owner, a joint venture between Foundry Commercial and Fundamental Advisors, plans to develop independent living cottages.   Foster Senior Living will manage the community for the joint venture, which has already acquired six communities since forming in June, with other assets in Nebraska and South Carolina. Fundamental Advisors, in partnership with Scribner Capital, also provided the joint venture... Read More »
Ziegler Secures Two More CCRC Bond Financings

Ziegler Secures Two More CCRC Bond Financings

Ziegler’s impressive run of activity continued with a couple of financings closed in the normally quiet week between Christmas and New Year’s Day. The larger transaction saw $136.77 million of public bonds and bank capital closed for People of Faith, Inc., d/b/a Royal Oaks Life Care Community. Originally established in Sun City, Arizona in 1981, the CCRC consists of 258 independent living apartments, 102 IL garden homes, 59 assisted living units, 56 memory care units, and a 60-bed high acuity assisted living care center, which replaced the former skilled nursing facility on the 50-acre campus.   Ownership has a 20-year master plan to expand the property... Read More »
Ohio Obligated Group Secures Bond Financing

Ohio Obligated Group Secures Bond Financing

The Methodist Retirement Center of Central Ohio, a not-for-profit, faith-based corporation doing business as The Wesley Communities, recently refinanced its three senior living communities in the Columbus, Ohio area with a bond financing arranged by Ziegler. This was Ziegler’s first underwriting with The Wesley Communities. The portfolio comprises 668 units of independent living, assisted living, memory care and skilled nursing. However, the obligated group excluded the assisted living, memory care and skilled nursing units at one campus and the AL and MC units at another (260 units altogether) that were financed by HUD. So, the obligated group actually consists of 408 units... Read More »
Symphony Care Network Acquires Four of Its Operated Communities

Symphony Care Network Acquires Four of Its Operated Communities

Ziegler’s Senior Housing & Care Finance Practice has been busy this month, reportedly closing a number of transactions in the last week, the most recent one for a portfolio of four skilled nursing facilities and one assisted living community in Illinois. Christopher Utz arranged and negotiated a $49.4 million debt placement for the current operator, Symphony Care Network, to acquire the portfolio from its REIT landlord. There are a total of 616 licensed skilled nursing beds and 109 assisted living units, and Symphony has been operating the properties since 2012.   Given the more conservative lending requirements nowadays, we imagine the portfolio was able to more than... Read More »
Ziegler Brokers Another Bank Bond Financing

Ziegler Brokers Another Bank Bond Financing

Ziegler has been on a roll lately, closing one bank bond financing after another for CCRC clients across the country. Its latest closing, working with Truist and Hancock Whitney, was for a not-for-profit CCRC in Fort Myers, Florida.   Founded in 1995, the community has grown over the years to include 333 independent living units, 44 IL villas, 44 assisted living units, 44 memory care units and a 64-bed/unit skilled nursing facility. It sits adjacent to HealthPark Medical Center and close to both Estero Bay Preserve State Park and Fort Myers Beach.  To replace outstanding debt, reimburse and fund certain capital expenditures and fund a debt service reserve... Read More »